Inflarx (IFRX) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Inflarx (NASDAQ:IFRX) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, Zacks.com reports.

According to Zacks, “InflaRx N.V. is a clinical-stage biopharmaceutical company. It focused on applying its proprietary anti-C5a technology to discover and develop first-in-class, potent and specific inhibitors of C5a. InflaRx N.V. is based in Germany. “

A number of other analysts have also issued reports on the company. Robert W. Baird initiated coverage on Inflarx in a research report on Monday, January 28th. They set an outperform rating and a $62.00 target price on the stock. ValuEngine raised Inflarx from a hold rating to a buy rating in a research report on Thursday, February 28th. JPMorgan Chase & Co. lifted their target price on Inflarx from $42.00 to $65.00 and gave the stock a top pick rating in a research report on Tuesday, February 5th. Finally, Guggenheim initiated coverage on Inflarx in a research report on Friday, February 22nd. They set a buy rating and a $65.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Inflarx presently has an average rating of Buy and an average target price of $53.11.

Shares of NASDAQ IFRX opened at $50.56 on Thursday. Inflarx has a 1 year low of $20.31 and a 1 year high of $52.00.

A number of large investors have recently bought and sold shares of IFRX. Bank of New York Mellon Corp acquired a new position in Inflarx in the third quarter worth about $277,000. Jane Street Group LLC acquired a new position in Inflarx in the third quarter worth about $278,000. JPMorgan Chase & Co. grew its stake in Inflarx by 29.2% in the third quarter. JPMorgan Chase & Co. now owns 10,700 shares of the company’s stock worth $367,000 after purchasing an additional 2,420 shares in the last quarter. Paloma Partners Management Co acquired a new position in Inflarx in the fourth quarter worth about $526,000. Finally, Bank of America Corp DE acquired a new position in Inflarx in the fourth quarter worth about $657,000. Institutional investors and hedge funds own 51.01% of the company’s stock.

Inflarx Company Profile

InflaRx N.V., a clinical-stage biopharmaceutical company, focuses on discovering and developing inhibitors using C5a technology primarily in the United States and Europe. Its C5a is an inflammatory mediator involved in the enhancement of a variety of autoimmune and other inflammatory diseases. The company's lead product candidate is IFX-1, a novel intravenously delivered first-in-class anti-C5a monoclonal antibody that is in the Phase IIb clinical trial for the treatment of hidradenitis suppurativa, a rare and chronic debilitating systemic inflammatory skin disease; to treat ANCA-associated vasculitis, a rare and life-threatening autoimmune disease; and for the treatment of other chronic/autoimmune diseases.

See Also: Balance Sheet

Get a free copy of the Zacks research report on Inflarx (IFRX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Inflarx (NASDAQ:IFRX)

Receive News & Ratings for Inflarx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inflarx and related companies with MarketBeat.com's FREE daily email newsletter.